Quick Hits: Epstein, Cespedes, Tanaka, Arb Hearings

Current Cubs president of baseball operations and former Red Sox GM Theo Epstein covered a range of subjects in a fascinating interview on WEEI's Hot Stove Show on Thursday (audio link; transcript). In addition to discussing the two clubs he has headed from a baseball ops perspective, Epstein emphasized the impact of changes to the CBA. The new system has both reduced teams' abilities to reap draft picks from outgoing free agents, Epstein said, and made it difficult to pay for hard-to-sign talent in later draft rounds. Here's more from around the league, including other notable talking points from Epstein:

Discussing his current club's reported pursuit of Masahiro Tanaka, Epstein noted that the pitcher likely cost the Yankees more in real terms than the team's $175MM contract and release fee commitment, once the collective bargaining tax is accounted for. The signing, said Epstein, "reflects the dynamic that there are many, many teams with lots and lots of dollars to spend and very few places to spend them, very few players who represent sound investments for the dollars."

"There are lots of teams demanding talented, prime-age players, and supply is really a trickle," Epstein continued. "Fewer and fewer players of that ilk are reaching free agency. … You're going to see these prices that cause people to shake heads. … Because of the TV deals, the teams that have them have a lot of money and not a lot of attractive players to spend the money on." Indeed, as I explored earlier tonight, some teams' desires to use free cash to enhance the value of their player assets (i.e., control and contract rights) could result in increasingly robust contracts for some younger players that remain years away from free agency.

One player that seems suitable for an attractive, long-term investment is Yoenis Cespedes of the Athletics. Fresh on the heels of today's extension of teammate Coco Crisp, Cespedes said that he, too, hopes to ink a new pact, tweets John Shea of the San Francisco Chronicle. The 28-year-old slugger, who still has two years remaining on the deal he signed out of Cuba, said that he hopes to play for the A's for his entire career. Of course, given his relative youth, upside, and high profile, Cespedes figures to command a much higher price than the $22.75MM over two years just given to Crisp. It remains to be seen whether the A's will be willing to dangle a sufficient guarantee to get a deal done.

Turning back to the aforementioned Tanaka, Yankees GM Brian Cashman told ESPN Radio today (via ESPNNewYork.com's Andrew Marchand) that the club views its new acquisition as "a really solid, consistent number three starter." Cashman noted that, though the club scouted Tanaka extensively, uncertainty remains as to how he will transition to the big leagues."If we get more than that," Cashman said, "all the better. He's got a great deal of ability."

Two arbitration hearings took place today, after none occurred last year. Andrew Cashner of the Padres and Vinnie Pestano of the Indians both made their cases to their respective panels. Cashner and the Padres are quite close in filing numbers ($2.4MM against $2.275MM), while Pestano ($1.45MM) and the Indians ($975K) left a larger absolute and relative sum to chance.